AR SB1097

Requires municipal improvement district commissioners to maintain records of regular and special meetings including notices, agendas, detailed minutes, financial reports with bank statements, and board actions with supporting documentation.

Mandates annual financial reports filed with city/town clerks by March 1 each year, including complete itemization of revenues, expenditures, and district project status.

Requires quarterly meetings with financial reports included on the agenda and provided to the public upon request, containing supporting documentation, bank statements, operating budget, projected budget, and revenue/expenditure itemization.

Limits assessment revisions to once per year and requires detailed reassessment filings with city/town clerks, including meeting minutes, compliance affidavits, and a detailed plan for use of reassessment funds.

Requires notices of reassessments to be published in newspapers one time per week for two weeks and mailed to all property owners in the district at least six days before hearings.